UNITE HERE asks: Is Hyatt Hotel’s development in India on track?

UNITE HERE asks: Is Hyatt Hotel’s development in India on track?
Business Wire
NEW YORK -- February 7, 2013
Hyatt Hotels Corporation (NYSE: H) has been promoting its international
expansion, with particular emphasis on growth in India. But a UNITE HERE
examination of Hyatt’s development plans in India’s largest city raises
questions about the company’s development timelines and process for selecting
business partners.
A new report: Indian Express: Is Hyatt’s expansion on track? focuses on these
issues.
Among the findings:
*With trees growing in the construction pit, the development of the
“iconic” Park Hyatt Mumbai project appears to be stalled.
*One of Hyatt’s key real estate partners, the DB Realty Group is enmeshed
in India’s 2G telecom scandal. A principal of DB Realty is reportedly in
jail.
*Indian press indicates that Hyatt’s project in Pune is stalled.
As Ratnesh Verma, Hyatt’s Senior VP of real estate and development recently
noted: “Projects get delayed in India for various reasons.”
Simon Cooper, president and managing director of the Asia/Pacific region for
Marriott International, was even more blunt: “I think this is one of the
hardest places to develop hotels.”
As Hyatt continues to hype its South Asian expansion, UNITE HERE will continue
to monitor what’s real and what’s a Bollywood fantasy.
Contact:
UNITE HERE
Jeff Nelson, 617-480-2585